Community Health Breaking Out?

Published on Friday, 27 January 2012 06:16 Written by Danny Miller

New York, January 27th (TradersHuddle.com) - Shares of Community Health Systems Inc. (NYSE:CYH) closed the trading session at $18.63 just above calculated resistance at $18.60 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Community Health Systems Inc. (NYSE:CYH) owns, leases, and operates hospitals in multiple states. The Hospitals services include emergency room services, general surgery, critical care, internal medicine, obstetrics and diagnostic services. Community Health also owns interests in physicians, physician practices, imaging centers, home health agencies and ambulatory surgery centers.

Community Health's stock was trading in a well defined range with support at $16.37 and resistance at $18.60, given that this range was broken traders will be closely monitoring the stock